Macroeconomic Fluctuations in Europe: Demand or Supply, Permanent or Temporary?

Macroeconomic Fluctuations: Demand or Supply, Permanent or Temporary?

We use generalized method of moments to estimate a rational expectations aggregate demand/aggregate supply macroeconomic model for five European economies and the United States. Our aim is to examine whether supply or demand shocks have predominated in these economies during the post-war era, and whether shocks of either type have been primarily temporary or permanent in nature. The estimation ...

Macroeconomic Fluctuations in the United States: Demand or Supply, Permanent or Temporary?

We use generalized method of moments to estimate a rational expectations aggregate demand/aggregate supply macroeconomic model for the US economy. Variants of the model have been extensively used in analyses of optimal monetary policy under rational expectations. Our aim is to examine whether supply or demand shocks have predominated in the postwar era, and whether shocks of either type have be...

Henna Tattoo: Temporary or Permanent?

Soaring Prices in Emerging Europe : Temporary Phenomenon or Lasting Challenge ?

FOCUS ON EUROPEAN ECONOMIC INTEGRATION 2/08

Stigmatized Asset Value: Is It Temporary or Permanent?*

Abstract: Stigma is a negative attribute of real estate acquired by the discovery of contamination and reflected in its value (Elliot-Jones, 1996). Using a theoretical model with external economies and adjustment costs, we show that both temporary stigma and permanent stigma are possible equilibrium outcomes after the discovery and cleanup of a hazardous waste site. The existence and duration o...